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Northeastern bank TriState Capital sets terms for $66 million IPO

TriState Capital, a bank serving middle market businesses in
the northeast, announced terms for its IPO on Wednesday. The
Pittsburgh, PA-based company plans to raise $66 million by
offering 5.7 million shares (4% insider) at a price range of
$10.50 to $12.50. At the midpoint of the proposed range, TriState
Capital would command a fully diluted market value of $323
million.

TriState Capital, which was founded in 2007 and booked $71
million in interest income for the 2012 fiscal year, plans to
list on the NASDAQ under the symbol TSC. TriState Capital
initially filed confidentially on February 1, 2013. Stephens,
Keefe Bruyette Woods, and Baird are the joint bookrunners on the
deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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